by John Hawkins | July 2, 2003 3:07 pm
Salon, Die Faster Please: Uber-popular (Alexa rank #716), lefty, website Salon is in SERIOUS financial trouble and I’m not using capital letters to spell out the word serious for nothing. Just look at the numbers…
“In Monday’s SEC documents, Salon said it expects to have to raise more money during the quarter ending in Sept. 30 to stay afloat. Salon has issued similar warnings in the past and so far has managed to raise money it needed to remain in business.
Since its 1995 inception, Salon has piled up losses totaling $82.3 million, including a $5.7 million deficit in its most recent fiscal year ended March 31.
To boost revenue, Salon has been charging to people read its once-free online magazine. Salon had 62,000 subscribers as of March 31.“
When you’re 82 million in the hole and adding to that number at a 5.7 million dollar clip, why not just give up the ghost already? Given that Salon is making less than 2 million dollars off of subscriptions and that the ad market on the net is still in the toilet, it’s highly unlikely that they’re ever going to turn a profit, much less pay back all the money that they owe. Yet like Jason or Freddy, they always seem to find some way to keep going no matter how brutal of a financial drubbing they suffer.
And for what? Their page looks more like a men’s magazine than the flagship publication of the left on the net. Look at what they’ve published on their front page today — We have a little bit of standard Bush bashing and a “Gosh, look at that Howard Dean go” article to go along with a T3 review, an entertainment gossip column, a “Legally Blonde 2” review, and a couple of sex related advice/articles that I’ve provided excerpts of …
“Encountering my thong, he yelped, “Your underwear doesn’t cover your butt!” Right then, I knew my dream of great sex would not come true.”
“After losing my virginity and suffering a miserable, histrionic breakup, my new boyfriend’s Cusack-esque brand of sedation and comfort was ideal — for a while.”
How will the left ever survive without this sort of cutting edge political commentary — or will they ever have to? Who knows, if Salon has managed to make it this far, maybe they’ll get enough lefties with deep pockets to help them keep going. I mean if Ted Turner gave a billion to the UN, maybe some ultra-liberal with more money than Scrooge McDuck will ante up a hundred million dollars to pay Salon’s bills. Stranger things have happened right? But personally, I’ve looking forward to seeing them nosedive into the pavement since they published that hideous “Forbidden Thoughts About 9/11” article back in Sept of 2002. In fact, the sooner Salon gets dragged kicking and screaming to the graveyard of dead web pages, the better as far as I’m concerned.
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